Within his recently unveiled autobiography, named Ithaki, the former premier Alexis Tsipras does not hold back as he revisits that turbulent era of Greece's financial crisis.
A Controversial Choice
According to Tsipras's account, Tsipras chose that maverick academic Varoufakis to be his treasury head primarily because of the latter's worldwide fame along with his very persuasive abilities when it came to speaker.
“In reality, he was, in reality, more of a celebrity and less of an economist,” recalled Tsipras.
Clashing Priorities
The former leader suggests that Varoufakis possessed his own agenda that included promoting his books as well as experimenting with his economic models on the nation instead of truly fighting for its economic stability.
He explained that those discussions to prevent insolvency became “not only a way of achieving improved terms for the country. They were a test, an historic opportunity to prove the validity of his theories.”
High-Stakes Negotiations
Amid tense negotiations, the country came perilously on the brink of leaving the eurozone.
On the line was both the country's destiny but also the harsh austerity policies demanded in return for bailout funds from international creditors.
Failed Options
Attempts to find funds elsewhere, including an urgent plea to Russia to purchase Greek bonds, were rejected.
Assisting Greece was tantamount to throwing money in the trash-can, Putin is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
In July 2015, those harsh conditions were subjected to a popular referendum, an action which plunged the EU into a further existential crisis.
Although the referendum was carried decisively by voters who opposed austerity, Tsipras had little option to reject its outcome then agree to a rescue deal from foreign lenders that proved to be tougher.
Breaking Point
The ex-PM revealed how he began to doubt his finance minister relatively soon.
“Varoufakis was the face of negotiation, the figure who drew publicity, who appeared on the front pages of publications globally … it seemed he relished the spotlight.”
When Varoufakis outlined a backup strategy involving establishing a secondary currency and distributing coupons to pensioners, the leader said he realised it was game over and asked him: “Can you be serious?”
Enduring Rebuke
Within the memoir, the author concludes how his former ally demonstrated himself to be “unfit for an agreement demanding complex and sensitive handling.”
Tsipras further claimed how his confrontational style left him increasingly isolated with colleagues, put Greece at risk, and assisted hardliners who were advocating a Greek exit from the euro.
The retelling of history has provoked fury along with stunned disbelief among certain groups, whereas Varoufakis has so far kept a deafening silence regarding these claims.
